CRYSTAL CITY, VA—An affiliate of Choi Cos. LLChas paid $7.35 million for a ground lease for a 6,005-square-footMcDonald's restaurant here.
The transaction, which closed on Aug.25, could well be a recordfor a McDonald's ground lease in the US, according toColliers International Executive Vice President PeterBlock, who is based in Chicago and was part of themarketing team that brokered the sale of the property at 2620Jefferson Davis Highway.
At $1,223 per square foot, the deal is not valued as high as the$1,672 per-square-foot price Harbor Group International paid for aStarbucks-anchored property at 1501 Connecticut Ave. NW in March,according to the Washington Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
